MSE News: House prices up at fastest rate in three years

OffGridLiving

I was watching George Clooney on TV the other day and the interviewer asked him if he felt he was the most attractive man alive. He said no, OffGridLiving is 10 times more attractive. I'm not bothered to find a link. He did say it though and I can see the argument. :)

chickaroonee

I'm not really invested in the whole house price crash debate, unlike some posters on here! That's why I'm not spending ages googling for it, because it's not important to me whether or not house prices rise. Some people seem obsessed with it.

I own my own home and bought it to live in, not to make loads of money out of it. I hope others are able to buy like me and don't think a boom or bust helps anyone.

JohnRo

Unfortunately people do, just look at the nonsense on the last page in this thread, rising house price is money for nothing if you have one, it fosters delusions of prosperity paid for by more debt and financial repression, it's little more than a ponzi scheme.

http://www.spectator.co.uk/features/8915781/osbornes-bubble/

JencParker

JohnRo wrote: »

Unfortunately people do, just look at the nonsense on the last page in this thread, rising house price is money for nothing if you have one, it fosters delusions of prosperity paid for by more debt and financial repression, it's little more than a ponzi scheme.

http://www.spectator.co.uk/features/8915781/osbornes-bubble/

Agree apart from one thing. This was started long before Osborne came into power. It was encouraged for three terms under Labour too.

JohnRo

JencParker wrote: »

Agree apart from one thing. This was started long before Osborne came into power. It was encouraged for three terms under Labour too.

Without a doubt, I'm not interested in the party political pantomime or different coloured flags, politicians are either all useless puppets, or as some might say complicit crooks, collecting inflated salaries and dancing to the tune of global corporations and bankers. It started in earnest with Thatcher and the fire sale of council housing for votes. It's taken over 30 years to get to the point where the wheels are now starting to fall off.

HAMISH_MCTAVISH

JohnRo wrote: »

Without a doubt, I'm not interested in the party political pantomime or different coloured flags, politicians are either all useless puppets, or as some might say complicit crooks, collecting inflated salaries and dancing to the tune of global corporations and bankers. It started in earnest with Thatcher and the fire sale of council housing for votes. It's taken over 30 years to get to the point where the wheels are now starting to fall off.

Nice rant.

Of course it's all a bit, well, bonkers....

Mortgage rationing and falling asset prices have caused great damage to the UK economy.

Driving a generation into enriching their landlords, sending rents to record highs, and causing the shortage of housing to reach crisis point as building falls to the lowest level in a century.

The solution is upon us however, as lending starts to return towards normality next year and asset prices continue to rise, which will revive the economy and cause more houses to be built, with all the associated benefits to lowering unemployment, etc.

JohnRo

HAMISH_MCTAVISH wrote: »

The solution is upon us however

You need to lay off the sauce. Average wages are back at 2002 levels (that's if you believe the cooked CPI figures) and falling.

HAMISH_MCTAVISH

JohnRo wrote: »

. Average wages .

We hear all sorts of crazy excuses around here for why prices shouldn't rise.....

But they are rising anyway.

brit1234

HAMISH_MCTAVISH wrote: »

We hear all sorts of crazy excuses around here for why prices shouldn't rise.....

But they are rising anyway.

Hamish the powers at be are trying every thing at be to make house prices rise with 0.5% interest rates, QE, funding for lending, and all the sub prime lending schemes such as shared ownership, shared equity (Home buy, first buy, New buy and now Help to buy). Then you have all the far east investors being conned overseas into buying newbuilds which aren't what they are marketed as and other foreign nationals pooring their savings into central London property as a safe haven for their cash. Oh I forgot all the buy to let landlords suddenly speculating again and first time sellers unable to sell at the price they want renting out their own homes and buying another.

In addition you have had the biggest housing propaganda campaign ever this year. Buy to let club seminars are starting up again after going bankrupt last time and we are ending the peak selling time.

What could possibly go wrong? Its 2007 all over again.

OffGridLiving

brit1234 wrote: »

House Prices First Time Buyer Strike Member
Halifax..........: Sep -0.4% (MoM) -1.2% (YoY)
Nationwide....: Sep -0.4% (MoM) -1.4% (YoY)
Land Registry.: Sep 0.0% (MoM) -0.7% (YoY)

Your post would have so much more gravitas if you didn't have a signature that you stopped updating since last September (when house prices started rising?)